Derogatory info. on credit reports
Date: Tue, 02/20/2007 - 12:30
Question 1:
Can anything be done about creditors who show a negative debt on your credit reports as active (date reported)and it's been over the 7-year bad debt reporting limit?
I have had (notice past tense)legitimate bad debts from the 80's and 90's. HOWEVER, those debts are WAY past the seven year limit to be reported. When I asked one creditor to remove the listing, he told me that as long as he keeps showing current (2005, 2006, 2007) dates reported, he can keep that bad debt on my reports. These debts are some 20 years old and/or were included in a bankruptcy in 2001!
This doesn't seem legitimate or reasonable. Logic dictates that if that were true, then NO-ONE who ever had a bad debt would be able to remove it from their reports because the 7-year time limit would keep starting over every time a creditor listed date of last activity as recent! Any ideas?
Question 2:
If a debt is included in a bankruptcy and the bankruptcy is due to be removed from your credit reports, how can a debt be listed individually AND have a DIFFERENT date of removal? Wouldn't EVERYTHING that was listed in the bankruptcy notice and discharged as of the date of the bankruptcy filing be considered a part of that debt and be removed as well? How can you get double-dipped on your credit report with a bad mark for the bankruptcy AND have each individual be counted against you as an additional mark? Anything I can do about this?
Thanks!
Can anything be done about creditors who show a negative debt on your credit reports as active (date reported)and it's been over the 7-year bad debt reporting limit?
I have had (notice past tense)legitimate bad debts from the 80's and 90's. HOWEVER, those debts are WAY past the seven year limit to be reported. When I asked one creditor to remove the listing, he told me that as long as he keeps showing current (2005, 2006, 2007) dates reported, he can keep that bad debt on my reports. These debts are some 20 years old and/or were included in a bankruptcy in 2001!
This doesn't seem legitimate or reasonable. Logic dictates that if that were true, then NO-ONE who ever had a bad debt would be able to remove it from their reports because the 7-year time limit would keep starting over every time a creditor listed date of last activity as recent! Any ideas?
Question 2:
If a debt is included in a bankruptcy and the bankruptcy is due to be removed from your credit reports, how can a debt be listed individually AND have a DIFFERENT date of removal? Wouldn't EVERYTHING that was listed in the bankruptcy notice and discharged as of the date of the bankruptcy filing be considered a part of that debt and be removed as well? How can you get double-dipped on your credit report with a bad mark for the bankruptcy AND have each individual be counted against you as an additional mark? Anything I can do about this?
Thanks!
Quote: Can anything be done about creditors who show a negative
Quote:
Can anything be done about creditors who show a negative debt on your credit reports as active (date reported)and it's been over the 7-year bad debt reporting limit? |
Probably, some kind of re-aging is happening with your accounts that are already past the seven years mark. This kind of activity is done when companies want to hurt your credit for long. Dispute the items with the bureaus for verifying it with your data furnishers. Unless you make a payment recently, this item should not be reported in your credit report.
As you are confused about the dates of the accounts discharged in bankruptcy, dispute it with the bureau. Pull your credit copy from the other two bureaus and see how the reporting is done there. This way, you will have a better picture and fix the disputed items.
I would pull reports and ready yourself for a bureau dispute and
I would pull reports and ready yourself for a bureau dispute and then I would kindly remind creditor of his violations of the fair credit reporting act and possible bankruptcy stay violation.
